Systems and methods for guaranteeing income based in part on an investment account

Abstract

Systems and methods for correlating guaranteeing income payments based in part on the cash value of a third-party investment asset, for a specified term or for life are disclosed. A preferred embodiment allows the covered person to realize guaranteed income regardless of any decrease in the cash value of the investment asset. Some embodiments of the systems and methods disclosed herein also increase the income payments when correlated against the appreciated cash value of the investment asset.

1 . An annuity product comprising a guarantee of periodic payments for a term wherein guarantee is based at least in part on a value of an external asset account. 
     
     
         2 . The annuity product of  claim 1  wherein the external asset account is under the control of the entity receiving the guarantee. 
     
     
         3 . The annuity product of  claim 1  wherein the external asset account does not contain annuities. 
     
     
         4 . The annuity product of  claim 1  wherein the external asset account is maintained by a financial institution. 
     
     
         5 . The annuity product of  claim 1  wherein the term is for a set period of years. 
     
     
         6 . The annuity product of  claim 1  wherein the term is for a covered person's lifetime. 
     
     
         7 . The annuity product of  claim 1  wherein the guarantee is provided for one or more account owners. 
     
     
         8 . The annuity product of  claim 7  wherein the term is for lifetime of longest surviving covered person. 
     
     
         9 . The annuity product of  claim 1  wherein the term does not start until some defined point in the future. 
     
     
         10 . The annuity product of  claim 1  wherein the guarantee of periodic income is based on a rollup value of the external asset account. 
     
     
         11 . The annuity product of  claim 1  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of an external index. 
     
     
         12 . The annuity product of  claim 1  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of the external asset account. 
     
     
         13 . The annuity product of  claim 1  wherein the guarantee of periodic income is based on actuarial factors pertaining to a covered person. 
     
     
         14 . The annuity product of  claim 1  wherein the guarantee of periodic income is recalculated if the external asset account is withdrawn in excess of a modal withdrawal limit. 
     
     
         15 . The annuity product of  claim 1  wherein if the external asset account is withdrawn by an amount less than a modal withdrawal limit for a modal period, difference will be added to the modal withdrawal limit for a subsequent modal period. 
     
     
         16 . The annuity product of  claim 1  wherein a lump sum payment is paid based upon death of one or more covered persons. 
     
     
         17 . The annuity product of  claim 1  wherein charges are assessed based on the value of the external asset account. 
     
     
         18 . The annuity product of  claim 1  wherein charges are assessed based on the value of a benefit base. 
     
     
         19 . The annuity product of  claim 1  wherein if the value of the external asset account multiplied by the modal withdrawal limit factor is greater than the current modal withdrawal limit, benefit base will be changed to equal current value of the external asset account. 
     
     
         20 . The annuity product of  claim 4  wherein daily data feeds from the financial institution to insurance company and vice versa are required to administer the annuity product. 
     
     
         21 . The annuity product of  claim 1  wherein an optimizer is utilized to determine an optimal portion of assets in the external asset account to be incorporated into the annuity product. 
     
     
         22 . The annuity product of  claim 1  wherein the guarantee of periodic income is paid from the external asset account until value of the external asset account reaches a threshold value. 
     
     
         23 . The annuity product of  claim 22  wherein the guarantee of periodic income is paid by the entity issuing the guarantee after the value of the external asset account reaches the threshold value. 
     
     
         24 . An annuity product comprising:
 an external asset account;   a guarantee of periodic income for a specified term determined by a value of the external account;   wherein the external asset account is maintained by a third party that is not providing the guarantee.   
     
     
         25 . The annuity product of  claim 24  wherein the external account is under the control of entity receiving the guarantee. 
     
     
         26 . The annuity product of  claim 24  wherein the external asset account does not contain annuities. 
     
     
         27 . The annuity product of  claim 24  wherein the external asset account is maintained by a financial institution. 
     
     
         28 . The annuity product of  claim 24  wherein the term is for a set period of years. 
     
     
         29 . The annuity product of  claim 24  wherein the term is for a covered person's lifetime. 
     
     
         30 . The annuity product of  claim 24  wherein the guarantee is provided for one or more account owners. 
     
     
         31 . The annuity product of  claim 30  wherein the term is for lifetime of longest surviving covered person. 
     
     
         32 . The annuity product of  claim 24  wherein the term does not start until some defined point in the future. 
     
     
         33 . The annuity product of  claim 24  wherein the guarantee of periodic income is based on a rollup value of the external asset account. 
     
     
         34 . The annuity product of  claim 24  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of an external index. 
     
     
         35 . The annuity product of  claim 24  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of the external asset account. 
     
     
         36 . The annuity product of  claim 24  wherein the guarantee of periodic income is based on actuarial factors pertaining to a covered person. 
     
     
         37 . The annuity product of  claim 24  wherein the guarantee of periodic income is recalculated if the external asset account is withdrawn in excess of the modal withdrawal limit. 
     
     
         38 . The annuity product of  claim 24  wherein if the external asset account is withdrawn by an amount less than a modal withdrawal limit for a modal period, difference will be added to the modal withdrawal limit for a subsequent modal period. 
     
     
         39 . The annuity product of  claim 24  wherein a lump sum payment is paid based on death of one or more covered persons. 
     
     
         40 . The annuity product of  claim 24  wherein charges are assessed based on the value of the external asset account. 
     
     
         41 . The annuity product of  claim 24  wherein charges are assessed based on the value of a benefit base. 
     
     
         42 . The annuity product of  claim 24  wherein if the value of the external asset account multiplied by the modal withdrawal limit factor is greater than the current modal withdrawal limit, benefit base will be changed to equal current value of the external asset account. 
     
     
         43 . The annuity product of  claim 27  wherein daily data feeds from the financial institution to insurance company and vice versa are required to administer the annuity product. 
     
     
         44 . The annuity product of  claim 24  wherein an optimizer is utilized to determine an optimal portion of assets in the external asset account to be incorporated into the annuity product. 
     
     
         45 . The annuity product of  claim 24  wherein the guarantee of periodic income is paid from the external asset account until value of the external asset account reaches a threshold value. 
     
     
         46 . The annuity product of  claim 45  wherein the guarantee of periodic income is paid by the entity issuing the guarantee after the value of the external asset account reaches the threshold value. 
     
     
         47 . A method of guaranteeing income payments comprising:
 determining a value of an external asset account;   calculating a periodic payment for a term;   calculating a value of a guarantee to ensure periodic payment will be paid by guarantor even if the value of the external asset account falls below a set amount; and   setting parameters for the entity receiving the guarantee to maintain control of the external asset account.   
     
     
         48 . The method of  claim 47  wherein the external account is under the control of entity receiving the guarantee. 
     
     
         49 . The method of  claim 47  wherein the external asset account does not contain annuities. 
     
     
         50 . The method of  claim 47  wherein the external asset account is maintained by a financial institution. 
     
     
         51 . The method of  claim 47  wherein the term is for a set period of time. 
     
     
         52 . The method of  claim 47  wherein the term is for a covered person's lifetime. 
     
     
         53 . The method of  claim 47  wherein the guarantee is provided for one or more account owners of the external account. 
     
     
         54 . The method of  claim 53  wherein the term is for lifetime of longest surviving covered person. 
     
     
         55 . The method of  claim 47  wherein the term does not start until some defined point in the future. 
     
     
         56 . The method of  claim 47  wherein calculating a periodic payment for a term is based on a rollup value of the external asset account. 
     
     
         57 . The method of  claim 47  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of an external index. 
     
     
         58 . The method of  claim 47  wherein the periodic payments may increase by an amount tied to an increase, if any, in the value of the external asset account. 
     
     
         59 . The method of  claim 47  wherein calculating a periodic payment for a term is based on actuarial factors pertaining to a covered person. 
     
     
         60 . The method of  claim 47  wherein calculating a periodic payment for a term is recalculated if the external asset account is withdrawn in excess of the modal withdrawal limit. 
     
     
         61 . The method of  claim 47  wherein if the external asset account is withdrawn by an amount less than a modal withdrawal limit for a modal period, difference will be added to the modal withdrawal limit for a subsequent modal period. 
     
     
         62 . The method of  claim 47  wherein a lump sum payment is paid based on death of one or more covered persons. 
     
     
         63 . The method of  claim 47  wherein charges are assessed based on the value of the external asset account. 
     
     
         64 . The method of  claim 47  wherein charges are assessed based on the value of a benefit base. 
     
     
         65 . The method of  claim 47  wherein if the value of the external asset account multiplied by the modal withdrawal limit factor is greater than the current modal withdrawal limit, benefit base will be changed to equal current value of the external asset account. 
     
     
         66 . The method of  claim 50  wherein daily data feeds from the financial institution to insurance company and vice versa are required to administer the annuity product. 
     
     
         67 . The method of  claim 47  wherein an optimizer is utilized to determine an optimal portion of assets in the external asset account to be incorporated into the annuity product. 
     
     
         68 . The method of  claim 47  wherein the guarantee of periodic income is paid from the external asset account until value of the external asset account reaches a threshold value. 
     
     
         69 . The method of  claim 68  wherein the guarantee of periodic income is paid by the entity issuing the guarantee after the value of the external asset account reaches the threshold value. 
     
     
         70 . The method of  claim 47  wherein setting parameters further comprises maintaining a proper asset allocation within the external account.